The International Solar Alliance (ISA) has taken shape with Indian Prime Minister Narendra Modi and French President François Hollande laying the foundation stone for the headquarters in Delhi.
The ISA, which was launched at COP21 in Paris in December, is an alliance of 121 countries with strong solar resources.
It aims to make the renewable source affordable and reliable across all countries and mobilise $1 trillion (£0.7tn) of investment by 2030.
The Paris declaration on the ISA states the countries “share the collective ambition to undertake innovative and concerted efforts for reducing the cost of finance and cost of technology for immediate deployment of competitive solar generation”.
India is contributing Rs 175 crore (£17.5m) while the French Development Agency is allocating €300 million (£233m) for the first five years.
Indian Ministry of New and Renewable Energy stated: “ISA is part of Prime Minister’s vision to bring clean and affordable energy within the reach of all and create a sustainable world. It will be a new beginning for accelerating development and deployment of solar energy for achieving universal energy access and energy security of the present and future generations.”
More than 5GW of solar capacity has been installed in India.